Highlights
President Donald J Trump (Get used to it)
What a market!!
Please note: All data, figures and graphs below are valid as of November 9th. All trading carries risk. Only risk capital you are prepared to lose.
Where did that come from?
Against the odds, Trump has emerged victorious. Early indications were showing that the race would be very close. The excitement started with Virginia, which was showing an early lead for Trump. By the time it became clear that Virginia was going to Clinton several hours later it didn't matter anymore since there were so many other close races in the key states.
There was a huge pop in the markets when Ohio went to the reds and total chaos when Florida fell.
As I'm writing there are still a few states that haven't been fully counted, but at this point Hillary can't win even if she takes all of them. Can't wait to see the victory and concession speeches. Though it seems like Clinton hasn't even written one.
SCARY THOUGHT: Along with the presidency, the Republicans won the Senate, and the House of Representatives. Now Donald will be able to choose the tie-breaking member of the Supreme Court giving him absolute power!!
The System is Rigged
Not sure if Trump would like this, but check out what happened to the SPX500 around 7:00 AM on the chart below...
What you're seeing is some serious safety measures that were implemented in order to stave off panic trading. The market continued to look normal but refused to go below 2030.
Since then, it seems traders started to realize that things might not be so bad under President T. The stocks are flying at the moment.
The Biggest Loser
Besides the S&P above, which fell 5% and stopped, there were other markets that weren't fortunate enough to have a safety net. The largest move from last night came from south of the border. The Peso fell more than 10% against the US dollar.
We discussed the Trump-o-meter many times in the last few weeks. Here we can see the USD/MXN in action...
The question we need to ask about the peso is, what next?
Does it, like the British pound, continue trading at the new value and trend lower, or does the world forgive and forget in short time. I guess that depends on the new Chief.
Disclaimer: This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital you're prepared to lose.